CALF vs XBI: Holdings Overlap
CALFPacer US Small Cap Cash Cows 100 ETF
Pacer · 200 holdings · $3.7B · as of 2026-04-30
XBIState Street® SPDR® S&P® Biotech ETF
State Street (SPDR) · 149 holdings · $10.0B · as of 2026-08-06
Holdings snapshots are 98 days apart (CALF: 2026-04-30, XBI: 2026-08-06). Weights and index membership change between snapshots, so the true current overlap is typically higher than shown. For funds tracking the same index, the gap can be 5–15 points.
How similar are CALF and XBI?
Pacer US Small Cap Cash Cows 100 ETF (CALF, by Pacer) holds 200 positions; State Street® SPDR® S&P® Biotech ETF (XBI, by State Street (SPDR)) holds 149. They have 7 holdings in common, and by portfolio weight the two funds are 3.4% identical. In practical terms the pair is essentially distinct, holding almost none of the same securities.
- Overlap by Weight
- 3.4%Sum of the smaller weight of each shared holding
- Shared Holdings
- 7CALF holds 200 · XBI holds 149
- Weight in Shared Holdings
- CALF 4%·XBI 5%Share of each fund's weight in stocks both funds own
Based on each fund's latest official holdings. How is this calculated?
What makes each fund different
Only in CALF
193 of 200 positions (95.9% of the fund) are not held by XBI. Showing the top 30 by weight.
Only in XBI
142 of 149 positions (95.5% of the fund) are not held by CALF. Showing the top 30 by weight.
Sector Breakdown
| Sector | CALF | XBI |
|---|---|---|
| Health Care | 9.1% | 95.5% |
| Consumer Discretionary | 28.3% | 0.0% |
| Information Technology | 26.3% | 0.0% |
| Energy | 9.6% | 0.0% |
| Communication Services | 9.5% | 0.0% |
| Other Sectors | 16.3% | 0.0% |
| Unclassified | 0.9% | 4.6% |
Share of each fund's portfolio weight by GICS-style sector, compiled from issuer fund data and our own classification of the holdings, not the issuers' published sector charts. “Unclassified” is weight we could not classify (1% of CALF, 5% of XBI).
Performance
| Fund | 1M | YTD | 1Y | 3Y (ann.) | 5Y (ann.) | 10Y (ann.) | Yield |
|---|---|---|---|---|---|---|---|
| CALF | +8.4% | +27.1% | +42.3% | +9.9% | +6.8% | — | 1.08% |
| XBI | -4.0% | +29.2% | +85.3% | +26.3% | +4.5% | +9.5% | 0.36% |
Total returns including dividends, from adjusted daily closes as of 2026-08-07. 3Y/5Y/10Y are annualized. Yield is trailing-12-month distributions over the last close. Past performance does not predict future results.
Project the growth of $10,000 in CALF vs XBI →
Shared Holdings(7)
The top 7 shared positions account for 100% of the overlap, led by INCY, EXEL and ALKS.
 INCYIncyte Corporation. COM | 1.55% | 1.09% | 1.09% |
|---|---|---|---|
 EXELExelixis, Inc. COM | 1.07% | 0.96% | 0.96% |
 ALKSAlkermes PLC COM USD0.01 | 0.66% | 1.07% | 0.66% |
 BCRXBioCryst Pharmaceuticals Inc. COM | 0.41% | 0.86% | 0.41% |
 IRWDIronwood Pharmaceuticals, Inc., Class A | 0.13% | 0.23% | 0.13% |
 RIGLRigel Pharmaceuticals Inc. COM | 0.10% | 0.25% | 0.10% |
 EBSEmergent Biosolutions Inc COM | 0.10% | 0.09% | 0.09% |
Frequently Asked Questions
How much do CALF and XBI overlap?
CALF and XBI overlap by 3.4% of portfolio weight. They share 7 holdings (CALF holds 200 positions and XBI holds 149), based on each fund's latest SEC-reported holdings.
Is it redundant to own both CALF and XBI?
The two portfolios are 3.4% identical by weight. Owning both is genuine diversification: the funds hold almost none of the same securities.
What are the biggest shared holdings of CALF and XBI?
The largest positions held by both funds are INCY, EXEL, ALKS, BCRX and IRWD. Together the top 7 shared positions account for 100% of the total overlap.
What does CALF own that XBI doesn't?
193 positions (95.9% of CALF) are unique to CALF, led by ZM, SNX and APA. In the other direction, 142 positions (95.5% of XBI) are unique to XBI.